Twitter acquires social data company Gnip
Twitter announced today it acquired social data company Gnip for an undisclosed amount. This indicates that Twitter will be getting more into the data packaging industry, which is highly demanded by the government and enterprise. Wall Street was receptive to the deal since Twitter’s shares were up over 11%, which is the biggest gain since Twitter went public in November.
“We want to make our data even more accessible, and the best way to do that is to work directly with our customers to get a better understanding of their needs. To that end, we have agreed to acquire Gnip, a leading provider of social data and a long-standing Twitter data partner. As Twitter has grown into a platform that delivers more than 500 million Tweets per day, Gnip has played a crucial role in collecting and digesting our public data and delivering the most essential Tweets to partners,” said Twitter in a blog post.
Twitter has a user base of around 250 million and has been the leading platform for breaking news. It is also used for providing viewer sentiment of media content and for alerting government agencies about natural disasters in remote places.
Gnip was founded in 2008 and has been partners with Twitter for 4 years. The company also provides data for social media content on Tumblr, WordPress, Reddit, Instagram, and Foursquare.